40,725 Shares in Karman Holdings Inc. $KRMN Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D purchased a new stake in Karman Holdings Inc. (NYSE:KRMN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,725 shares of the company’s stock, valued at approximately $2,940,000.

A number of other hedge funds also recently modified their holdings of KRMN. Lexington Partners L.P. acquired a new stake in Karman in the third quarter valued at $319,861,000. Donaldson Capital Management LLC bought a new stake in shares of Karman in the 3rd quarter valued at about $252,803,000. Bamco Inc. NY grew its position in shares of Karman by 0.6% in the 2nd quarter. Bamco Inc. NY now owns 2,415,134 shares of the company’s stock valued at $121,650,000 after buying an additional 14,486 shares during the last quarter. Invesco Ltd. increased its stake in shares of Karman by 26.8% in the second quarter. Invesco Ltd. now owns 1,905,052 shares of the company’s stock valued at $95,957,000 after buying an additional 402,346 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Karman by 162.8% during the second quarter. Bank of New York Mellon Corp now owns 1,770,498 shares of the company’s stock worth $89,180,000 after acquiring an additional 1,096,790 shares during the last quarter.

Karman Trading Down 8.1%

NYSE:KRMN opened at $81.33 on Friday. Karman Holdings Inc. has a 12 month low of $25.02 and a 12 month high of $118.38. The company has a current ratio of 2.86, a quick ratio of 2.69 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $10.76 billion and a price-to-earnings ratio of 325.31. The firm has a fifty day simple moving average of $90.82 and a two-hundred day simple moving average of $74.52.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BWS Financial reiterated a “sell” rating and issued a $37.00 target price on shares of Karman in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Karman in a research note on Monday, December 29th. Piper Sandler initiated coverage on shares of Karman in a research report on Wednesday, January 21st. They set a “neutral” rating and a $98.00 price objective for the company. Raymond James Financial restated a “strong-buy” rating and issued a $130.00 target price on shares of Karman in a report on Thursday, January 22nd. Finally, Citigroup reaffirmed a “buy” rating on shares of Karman in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.33.

About Karman

We specialize in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Our integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives. We estimate that no single program accounted for more than 10% of sales for the nine months ended September 30, 2024 or the twelve months ended December 31, 2023, with revenue from over 100 active programs supporting current production and next-generation space, missile, hypersonic, and defense applications.